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Updated almost 8 years ago on . Most recent reply

What to look for/ask during inspection
Tomorrow is the inspection for a 20 unit apartment complex I'm purchasing, I'll be walking through the units along with the inspector. My previous deals were commercial office space/building 4 townhomes; I haven't previously dealt with tenant occupied properties, do you have any advice on what to ask the inspector/look out for?
Most Popular Reply

look out for everything. How much does the inspection cost in your area?
How much does the insurance cost for a mix use building?
A mix use 22 unit building landed on my lap. And making sure I don't get robbed by the inspector and insurance company. But I don't know if this is your first multi my advice would be to take your time inspect everything so you can negotiate anything that hasn't come to light.
So check all updates on roof, electrical, heating and plumbing
at least 100 amp per unit
Has a sep exit for fire per unit- brick building
Units vacant?
Also be very rude to the sellers agent by asking or probing the tenants how long they have been there and what's some of the issues there having in the units. And the common areas. You can figure out by the first 10 seconds if your going to have ether a professional tenant, complainer, or victim mentality tenant. Keep us posted. Good luck and pm me to bounce ideas of off each other.